Press release from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the company “Travaux Généraux de Construction de Casablanca SA” (TGCC), of the “Société de Travaux Agricoles Marocains SA” (STAM), through the acquisition of 60% of the share capital and associated voting rights

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “summary of the operation” below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: “Travaux Généraux de Construction De Casablanca SA” (TGCC);
• The target: “Société de Travaux Agricoles Marocains SA” (STAM).

Nature of the operation

• Exclusive takeover.

Economic sectors concerned

• Public works sector.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. April 2, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration operation concerning the exclusive takeover by the company “Travaux Généraux de Construction de Casablanca SA” (TGCC), of the “Société de Travaux Agricoles Marocains SA” (STAM), through the acquisition of 60% of the share capital and associated voting rights.

“TGCC” is a Moroccan joint-stock company, registered with the Casablanca Trade Register under number 63907, and headquartered at 4, rue Imam Mouslim, Oasis – Casablanca, mainly specialized in the construction sector. Its activity covers various types of projects, including hotel complexes, commercial, industrial and administrative buildings, airports, stadiums as well as health and education buildings.

“STAM” is a Moroccan joint-stock company registered with the Casablanca Trade Register under number 67607, and headquartered at rue Abou Hadil Allaf, Place Belair, Résidence Salma – Casablanca. It operates in the public works sector.

 

Done in Rabat, March 20, 2025